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Cable Update (GBPUSD)

  • #799,841
  • Edited 11:30pm Dec 29, 2023 10:41pm | Edited 11:30pm
Quoting _BBKing_
{quote} Why being biased just on the candle close price? I mean, ok it’s a quarterly, but as seen every candle close tells something but the following candle can change the scenario. They are indeed a graphic representation of what happened in that timeframe period. so we have red daily candles, followed by green ones. Also a quarter is 3 months. why would market be down for 6 months?! if a candle is unable to breake previous, maybe a pulllback then brake. so eventually a 1 month pullback. Or some weeks. but there can also be a new candle open straight...

i got a sell signal last quarter so price has to close above that candle high at the black line to negate the sell

this quarters candle in just a run of the mill inside candle...it dont mean shit in the greater scheme of things except in the fookedup minds of retail traders and people in here LOL

i laugh at the majority in here and go against them cause they piss their pants on every long green candle and see pie in the sky boolish nirvana even if its an inside one so i use them and short against them ill post an example from dec 1st

Quoting Zebi
{quote} my 2682 order got hit too so done shorting with 5 total shorts average 2665
i think i was the only shorter or maybe there was one other but the room on the whole was boolish all because of that dec 1st long green candle....even nubchop was loud and acting his usual stupid self and i was using him as a signal LOL

i was saying thruout the whole thanksgiving week price would retrace and i used dec 1st inside candle to short on the people in here who were boolish just because dec 1st closed green

read the chat before day of and day after dec 1st chat so thats why im sayin even tho this quarters candle is green its still inside so dont mean shit and the losers will lose money like they do 95% of the time

i said yesterday i was a tape reader...its a form of price action but it takes in account the relationship of the precvious candle...the setup candle as it were....the idiot ICT traders that use PA dont take into account candles as much as they do sup/res levels

hope this helps to answer your question
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short trump and go long the deepstate
  • #799,842
  • Dec 29, 2023 10:45pm Dec 29, 2023 10:45pm
Quoting Iansco
{quote} I'm with you on this one NAVK. with a 200k account, 3% ROI per month is $72k income per year. I know many people on here can make 3% per month. I'm with FTMO, so that's a risk of about EUR 1,000 for the account which you get back anyway. 72K is 7200% of the 1k investment. I doubt anyone here can make 600% ROI monthly consistently for a year. These days that 13% ( 15% with FTMO) has an unlimited number of days to achieve. No need to do it in a day, week, month or even year. No need to put on yourself all that pressure aa4fx is talking about....
Just read, and understand, the solution from here https://www.forexfactory.com/thread/...6#post14703906 and the pressure you thought I was talking about will be over! Of course, now that the presure constraint is over, feel free to make those money!

There will be no more money left in the world if those traders making 3%? a month? will decide to do business instead of being employees.
  • #799,843
  • Edited 11:04pm Dec 29, 2023 10:51pm | Edited 11:04pm
so im bearish GU cause i got a sell signal on my system on yesterdays daily...weekly has 3 inside candles and quarterly is still on a sell signal

even 6month charts is bearish

id have to be a retard like so many people on FF to turn boolish right now

and like i always say if one gets confused with the GBP chart switch to the dollar chart and thats bottomed and ready to go up...maybe youll be able to see that better on USD chart...i love it cause its my badass mf'er
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short trump and go long the deepstate
  • #799,844
  • Dec 29, 2023 11:10pm Dec 29, 2023 11:10pm
Quoting Zebi
this is another instance of my feeling foolish pointing something really obvious out to to this room since everybody already knows this if price cant close over 2733 tmoro GU will fall to my red line next year...bools can chew their cud till kingdom come but wont do any good i dont use diagonal trendlines but if i did id use em like this candle tails are the idiot retail trend traders that got caught in a reversal so why would anyone base their TA on those dumb fooks...thats why i ignore tails for the most part im...

BBKING...now look at the monthly chart in this post of mine in context of those 3 weekly inside candles

price hovered around last months hi all day long and closed under for another sell signal LOL
short trump and go long the deepstate
  • #799,845
  • Dec 29, 2023 11:49pm Dec 29, 2023 11:49pm
Quoting aa4fx
{quote} It is more than 3 lines but it fully explain the process of transforming those 400$ into something nice, find yourself the number, and it is explained here: https://www.forexfactory.com/thread/...6#post14703906 You don't have to throw away every funded firm and start with 400$, etc ... because it just happen that you wrote that, but it would be interesting to know your approach, if you will have any, as you you were transparent into describing your current setup, and I thank you for that. My setup include a vps with 4...
fx blue does all required functions.

It is free copier.

1 sender.

Multiple receivers.
Intraday only.
  • #799,846
  • Dec 30, 2023 12:01am Dec 30, 2023 12:01am
Quoting aa4fx
{quote} It is more than 3 lines but it fully explain the process of transforming those 400$ into something nice, find yourself the number, and it is explained here: https://www.forexfactory.com/thread/...6#post14703906 You don't have to throw away every funded firm and start with 400$, etc ... because it just happen that you wrote that, but it would be interesting to know your approach, if you will have any, as you you were transparent into describing your current setup, and I thank you for that. My setup include a vps with 4...
My approach for January will be same.

Trade funded and challenge accounts.

There is one change though.

I will be trading in 5k demo account with 1 : 50 leverage. 200 $ per day target.

I will use fxblue copier to copy trades to funded/challenge accounts.

I will plan to open 500 $ real money account from feb onwards and do in the way as you stated.

My trading will happen at 5k demo account to copy to all real money/challenge/funded accounts.
Intraday only.
  • #799,847
  • Dec 30, 2023 1:46am Dec 30, 2023 1:46am
Quoting Zebi
{quote} BBKING...now look at the monthly chart in this post of mine in context of those 3 weekly inside candles price hovered around last months hi all day long and closed under for another sell signal LOL
yes ok I can t deny price is in pressure area near 1.28 or let be it the whole 2750/3150 area.
i expect to get down from this area and eventually revisit support.
as always it’s a matter of timing. Or better said…. When?!

Looking at quarterly and monthly, can easily be next quarter range 1.3150 - 1.24.
so can go down then up.
or up then down,
or up down up down up down into a range.

we retail traders (because this is what we are all of us in here) can only be able to see where are main levels and trade according to our study.
sayin now price will be bearish next 6 months it’s an assumption based on own ideas

you first I’m sure you already know, market doesn’t care much about anything. If goes up, it goes. If goes down, it goes. No matter what. Luckily there are large money accounts operating counter direction creating buy / sell opportunities every day and week.

daily setup atm shows possible bearish wedge. If confirmed can be the beginning of a move down.
but if broken upward, we can easily see 1.30 or near there
90% of traders use TA, indicators and prediction
  • #799,848
  • Dec 30, 2023 1:46am Dec 30, 2023 1:46am
Quoting RickM
{quote} Hi tiborf71 How do I treat DD. We all have a weakness and for years I didn't know what my weakness was. I thought it was averaging down for years and years because I would have great weeks then give much of it back by averaging down and therefore suffering high DD before I would just accept a loss. This cycle continued for years (maybe I'm slow because it took me 5 years to become profitable) till I decided to input all my trading data into a software program that may highlighted any issues I may have. Now I'm like thinking it's going to...
Thanks for the reply.
  • #799,849
  • Dec 30, 2023 2:00am Dec 30, 2023 2:00am
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  • #799,850
  • Edited 3:40am Dec 30, 2023 2:29am | Edited 3:40am
Quoting Zebi
so im bearish GU cause i got a sell signal on my system on yesterdays daily...weekly has 3 inside candles and quarterly is still on a sell signal even 6month charts is bearish id have to be a retard like so many people on FF to turn boolish right now and like i always say if one gets confused with the GBP chart switch to the dollar chart and thats bottomed and ready to go up...maybe youll be able to see that better on USD chart...i love it cause its my badass mf'er {image}
well, I don't trade in this time frame, but out of curiosity I just looked at it. I found that the price broke through the 1.26790 resistance level and closed above it. This seems very important. because the next resistance level is 1.31413, so I would only size positions wisely in this time frame.

just carefully.
perhaps no I am wrong.
  • #799,851
  • Edited 5:19am Dec 30, 2023 4:07am | Edited 5:19am
Quoting Jolita
{quote} Hi Rick, I really appreciate you having the time to share the right approach to trading and the comments you make are very useful. You seem to have lots of valuable knowledge. Delta charting it's something I would like to understand and willing to apply to my trading. Could you please recommend any good thread or info where I could read about how it? Thanks a lot.
Hello.
I see that you are thinking about trading with delta, I would like to share my experience in this regard if you allow me. Well, it is not the holy grail, there are problems with it, the biggest one is that your entry point is only relative in the best case. and you can only hope that DD does not destroy your account. of course you can use some kind of protection, but it is not worth much in the long run. as I said before, the entry point decides everything, if you enter at the wrong time.....
so there are plenty of problems with this strategy.

if you consider trading based on data, but there is a better way, everything is there with the candle based chart.
  • #799,852
  • Dec 30, 2023 4:24am Dec 30, 2023 4:24am
Quoting Zebi
{quote} i got a sell signal last quarter so price has to close above that candle high at the black line to negate the sell this quarters candle in just a run of the mill inside candle...it dont mean shit in the greater scheme of things except in the fookedup minds of retail traders and people in here LOL i laugh at the majority in here and go against them cause they piss their pants on every long green candle and see pie in the sky boolish nirvana even if its an inside one so i use them and short against them ill post an example from dec...
I read quarterly a bit different.
not saying you are wrong, just sharing my view.

read the following from left to right following price moves.
It seems to me price is trying to find support to go higher.

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of course, best would be looking to find a buy sign near support area so this is somewhere near 1,25 or maybe 1,24 area.
but also there could be a small pullback in nearest demand area then push up to major resistance higher than 1.30.
also could be a straight move up then a total failure down.
quarters analysis includes major fundamental develops aswell, so we will have to know where we are, and trade accordingly to what happens around.

if usd keeps going weaker, and gbp gets stronger, because central banks decides so, forget about techs. It will just keep going up and buy dips.
you know, same can happen the opposite side
90% of traders use TA, indicators and prediction
  • #799,853
  • Dec 30, 2023 4:42am Dec 30, 2023 4:42am
Quoting _BBKing_
{quote} I read quarterly a bit different. not saying you are wrong, just sharing my view. read the following from left to right following price moves. It seems to me price is trying to find support to go higher. {image} of course, best would be looking to find a buy sign near support area so this is somewhere near 1,25 or maybe 1,24 area. but also there could be a small pullback in nearest demand area then push up to major resistance higher than 1.30. also could be a straight move up then a total failure down. quarters analysis includes...
looking at this time frame, I would say that the time for the bears has not yet come, at least I would not open a short position yet.
this is just my own opinion.
  • #799,854
  • Dec 30, 2023 5:56am Dec 30, 2023 5:56am
Quoting navk
{quote} Gamblers attitude with large profit in a day or month can not win for longer period of time. Purely as a trader, with small aspiration, let us say, 100 $ per day or 2000 $ in a month is possible. 100 K virtual account offers easy way to make this than 400 $ real money account.
I think if your R:R ratio is very good and you use SL then anything is possible.
  • #799,855
  • Dec 30, 2023 6:22am Dec 30, 2023 6:22am
Quoting tiborf71
{quote} I think if your R:R ratio is very good and you use SL then anything is possible.
and with that I wrote down the recipe for profitable trading.

LOL.
  • #799,856
  • Dec 30, 2023 6:44am Dec 30, 2023 6:44am
Quoting tiborf71
{quote} I think if your R:R ratio is very good and you use SL then anything is possible.
10 pips sl with target 20 , 30 pips looks possible for this pair. Indeed key is setting sl.
  • #799,857
  • Dec 30, 2023 6:51am Dec 30, 2023 6:51am
Quoting Eren10
{quote} 10 pips sl with target 20 , 30 pips looks possible for this pair. Indeed key is setting sl.
you are on the right track.
  • #799,858
  • Dec 30, 2023 7:15am Dec 30, 2023 7:15am
Quoting tiborf71
{quote} looking at this time frame, I would say that the time for the bears has not yet come, at least I would not open a short position yet. this is just my own opinion.
well, needs confirmation in lower timeframes indeed.
i would suggest to look for daily chart.
a confirmed bearish setup in daily could mean a 300 to 500 p down.
Same for a confirmed bullish setup.

at this stage we are in pressure area and seen on daily there could be a very good down if confirmed.
if not it will happen higher.

and so on.
the same than trading hourly. You see a resistance are and check reaction in 5m chart.
90% of traders use TA, indicators and prediction
  • #799,859
  • Dec 30, 2023 7:26am Dec 30, 2023 7:26am
Quoting _BBKing_
{quote} well, needs confirmation in lower timeframes indeed. i would suggest to look for daily chart. a confirmed bearish setup in daily could mean a 300 to 500 p down. Same for a confirmed bullish setup. at this stage we are in pressure area and seen on daily there could be a very good down if confirmed. if not it will happen higher. and so on. the same than trading hourly. You see a resistance are and check reaction in 5m chart.
Well, that doesn't happen with H1, assuming our strategy isn't the same.
but what you say can be good, in a high time frame.
I only trade H1.
  • #799,860
  • Dec 30, 2023 7:38am Dec 30, 2023 7:38am
Quoting _BBKing_
{quote} well, needs confirmation in lower timeframes indeed. i would suggest to look for daily chart. a confirmed bearish setup in daily could mean a 300 to 500 p down. Same for a confirmed bullish setup. at this stage we are in pressure area and seen on daily there could be a very good down if confirmed. if not it will happen higher. and so on. the same than trading hourly. You see a resistance are and check reaction in 5m chart.
I RECOMMEND YOU READ BACK MY POST ON THIS SUBJECT TODAY.
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